OTRC: 'The Suite Life on Deck' series finale airs May 6 (Spoilers)

Cole Sprouse appears as Cody Martin and Debby Ryan as Bailey Pickett in a scene from the Disney Channel series 'The Suite Life on Deck' in an episode that airs May 6, 2011. / Cole Sprouse appears as Cody Martin and Debby Ryan as Bailey Pickett in a promotional photo for 'The Suite Life on Deck.' (Disney Channel / Craig Sjogin)

"The Suite Life on Deck," the hit Disney Channel series starring Dylan and Cole Sprouse and Debby Ryan, is set to end on Friday, May 6 at 8 p.m. ET after three seasons.

Warning: Spoiler alert!

During the episode, the Zack and Cody, played by the Sprouse twins, and Bailey, portrayed by Ryan, graduate from Seven Seas High School. Cody and Bailey have both applied to Yale University, but one of them is rejected.

Also, Mr. Moseby, played by Phill Lewis, makes a "life-changing decision" involving Ms. Tuttweiler, portrayed by Erin Cardillo, the Disney Channel, said in a statement.

The series, a spin-off of "The Suite Life of Zack & Cody," began in 2008 and spurred a 2011 Disney Channel film, "The Suite Life Movie."

The franchise, which has aired 162 half-hour episodes, holds the record for having the longest running continuous characters on the air and the most episodes in Disney Channel history, the cable network said.

Ryan is set to star in a new series called "Jessie" in the fall of 2011. The show tells of an 18-year-old girl who moves from Texas to New York City and becomes the nanny of four children living in a multi-million dollar penthouse.

The Sprouse twins have said they hope to begin their college studies at New York University. Dylan Sprouse has said he wants to study Art, while his brother is interested in film.

"Cole won't be absent at all because as a film major/drama minor he'll be required to act in, direct and produce student films as part of his college courses," he added. "He definitely will not be 'away for 4 years.' He'll still be very, very involved in the film industry."

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